Klaksvíkar Ítróttarfelag, usually known as KÍ Klaksvík or KÍ for short, was first established in August 1904. Based in the town of Klaksvík, throughout history they have been one of the Faroe Islands' most successful clubs, winning a large number of trophies. Their main rivals for those honours have been Havnar Bóltfelag and as a result, matches between the two sides have often carried huge importance within the country.
Upon the foundation of the country's national league system in 1942, KÍ enjoyed instant success, winning that year's league title. They would go on to win a further title in 1945, before enjoying a golden era in the 1950s and 1960s, during which time they won 11 league titles and two Faroe Islands Cups.
In total, the club have now won a total of 17 league titles, which ranks them as the second most successful team in the league's history. The 1990s brought about further successes in the Faroe Islands Cup, which they lifted in 1990, 1994 and 1999, to take their total tally of cup wins to five. In 1966, 1967 and 1999, they completed league and cup doubles. Owing to their success at domestic level, the team made their debut in the UEFA Champions League in 1992 and they have since gone on to compete in the European Cup Winners' Cup and UEFA Cup.
Todi Jónsson is widely regarded as the club's most notable alumi. A product of the youth academy, Jónsson played several seasons for the side and went on to enjoy successful career with Danish giants FC København. Other notable former KÍ players include Jákup Mikkelsen, Rógvi Jacobsen and the brothers, Kurt and Allan Mørkøre.
Klaksvíkar Ítróttarfelag play their home matches at Djúpumýra Stadium. The venue is currently able to hold a maximum of 3,000 supporters.